HDB Financial Services Limited Unlisted Shares

Financial Report Summary

The document is a compilation of various financial reports, disclosures, and related communications from HDB Financial Services Limited ("HDB" or the "Company") for the quarter and year ended March 31, 2024. It includes standalone and consolidated audited financial results, along with auditor's reports, disclosures mandated by SEBI regulations, and other relevant information.

Key Highlights & Disclosures:

• Financial Results: Both standalone and consolidated audited financial results for the quarter and year ended March 31, 2024, were reviewed by the Audit Committee and approved by the Board of Directors on April 16, 2024. The financial statements have been prepared in accordance with Ind AS. The figures for the quarter ended March 31, 2024, are the balancing figures between the audited figures for the full financial year and the published year-to-date figures up to the end of the third quarter.
• Auditor's Opinion: Joint Statutory Auditors, M/s. B. K. Khare & Co. and M/s. KKC & Associates LLP, submitted an Audit Report with an unmodified opinion on the Standalone Financial Results.
• Dividend Recommendation: The Board of Directors recommended a final dividend of Rs. 1.00 per equity share of face value of Rs. 10 each for the financial year ended March 31, 2024, subject to shareholder approval.
• SEBI Regulation Disclosures: The document includes disclosures required under Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including debt-equity ratio, debt service coverage ratio, interest service coverage ratio, net worth, net profit after tax, and earnings per share.
• Segment Reporting: Standalone segment reporting is provided for the quarter and year ended March 31, 2024, detailing the performance of the Lending business and BPO services segments.
• Large Corporate Status: HDB is identified as a 'Large Corporate' based on SEBI criteria, and relevant disclosures are provided.
• Resolution Framework for COVID-19: The report includes information required by Reserve Bank of India (RBI) Circulars regarding the Resolution Framework for COVID-19 related Stress.
• Security Cover: The security cover available in respect of secured non-convertible debt securities as of March 31, 2024, is 1.10, while the asset cover for unsecured non-convertible debt securities is 2.40.
• Commercial Paper Listing: The Company has listed its Commercial Papers on the National Stock Exchange of India Limited (NSE).
• RBI Scale Based Regulations: The Reserve Bank of India has categorized the Company as Upper Layer (NBFC-UL) as per its circular dated September 30, 2022.
• Transfer of Loan Exposures: Details of loans transferred/acquired during the period ended March 31, 2024, under the RBI Master Direction on Transfer of Loan Exposures dated September 24, 2021, are provided, indicating that the company has not transferred any Non-Performing Assets or loans not in default, nor has it acquired any Special Mention Accounts or stressed loans.
• Statement of Utilisation of Issue Proceeds: A statement is included confirming the utilisation of issue proceeds from Non-Convertible Securities issued during the quarter ended March 31, 2024.
• Disclosure of Related Party Transactions: Disclosure of related party transactions for the half-year ended March 31, 2024, as mandated by SEBI Regulations, is included, listing transactions with HDFC Bank Ltd., HDFC Life Insurance Co. Ltd., HDFC Securities Ltd., and key managerial personnel.
• Cash Flow Statements: The Standalone and Consolidated Statements of Cash Flows are included, detailing the cash flow from operating, investing, and financing activities.
• Capital Adequacy Ratio: The Capital adequacy ratio (%) stands at 19.25%.
• Gross Stage 3 Ratio: The Gross Stage 3 ratio (%) is 1.90%.
• Liquidity Coverage Ratio: The Liquidity coverage ratio (%) is 140%.
• Stage 3 Provision Coverage Ratio: The Stage 3 provision coverage ratio (%) is 66.82%